Renasant Bank Acquires 7,570 Shares of ServiceNow, Inc. $NOW

Renasant Bank increased its holdings in ServiceNow, Inc. (NYSE:NOW) by 182.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,715 shares of the information technology services provider’s stock after buying an additional 7,570 shares during the period. Renasant Bank’s holdings in ServiceNow were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NOW. BlackRock Inc. acquired a new stake in shares of ServiceNow during the 2nd quarter worth $9,536,615,000. State Street Corp raised its stake in ServiceNow by 406.6% in the fourth quarter. State Street Corp now owns 47,896,597 shares of the information technology services provider’s stock valued at $7,337,280,000 after purchasing an additional 38,441,898 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in ServiceNow by 371.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,395,663 shares of the information technology services provider’s stock valued at $4,962,692,000 after purchasing an additional 25,517,218 shares in the last quarter. Geode Capital Management LLC lifted its position in ServiceNow by 404.8% during the fourth quarter. Geode Capital Management LLC now owns 23,512,428 shares of the information technology services provider’s stock worth $3,591,425,000 after purchasing an additional 18,854,775 shares during the period. Finally, Morgan Stanley lifted its position in ServiceNow by 335.6% during the fourth quarter. Morgan Stanley now owns 22,733,483 shares of the information technology services provider’s stock worth $3,482,543,000 after purchasing an additional 17,514,679 shares during the period. 87.18% of the stock is currently owned by institutional investors.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: Investor enthusiasm is being supported by reports that ServiceNow’s AI-related contracts have surpassed $1 billion, while its latest quarterly results exceeded expectations: adjusted EPS was $0.90 versus a $0.86 consensus estimate, revenue reached $3.99 billion versus $3.93 billion expected, and revenue increased 24% year over year. ServiceNow Stock Surges Nearly 5% as AI Revenue Reaches $1 Billion Benchmark
• Positive Sentiment: ServiceNow is benefiting from a broader rebound in software stocks. Recent earnings from ServiceNow and other major software companies are easing fears that generative AI will erode demand for traditional enterprise applications, instead suggesting that AI is expanding automation spending. The SaaSpocalypse Trade Is Cracking
• Positive Sentiment: A technical trading signal appeared near $144.84, followed by a move toward an intraday high, adding short-term momentum to the stock. ServiceNow Stock Up Nearly 3% After Key Trading Signal
• Neutral Sentiment: Articles comparing ServiceNow with Salesforce and UiPath highlight its strong enterprise position and AI-automation opportunity, but also frame the sector as a competitive contest in which execution and the economics of “agentic” AI consumption will determine the long-term winner. ServiceNow Vs. Salesforce
• Negative Sentiment: Broader market pressure tied to escalating geopolitical tensions weighed on software shares during the session, creating a headwind despite ServiceNow-specific AI optimism. ServiceNow Stock Slips Monday
• Negative Sentiment: Director Paul Edward Chamberlain sold 2,700 shares for approximately $365,850, reducing his holdings by 5.78%. The remaining stake is substantial, but the insider sale may add limited selling pressure. SEC Insider Trading Filing

Analysts Set New Price Targets

Several equities analysts have commented on the stock. TD Cowen reissued a “buy” rating and issued a $140.00 target price on shares of ServiceNow in a report on Monday, August 17th. Citigroup reaffirmed a “market outperform” rating on shares of ServiceNow in a report on Thursday, July 23rd. Citic Securities reduced their price target on shares of ServiceNow from $168.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Citizens Jmp reissued a “market outperform” rating and issued a $157.00 price objective on shares of ServiceNow in a research note on Tuesday, May 5th. Finally, Truist Financial lifted their price objective on shares of ServiceNow from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.24.

ServiceNow Stock Up 2.6%

NOW stock opened at $148.43 on Tuesday. The stock has a market capitalization of $153.48 billion, a P/E ratio of 92.77, a price-to-earnings-growth ratio of 2.55 and a beta of 0.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $194.73. The firm has a 50-day moving average price of $113.43 and a 200-day moving average price of $106.91.

ServiceNow (NYSE:NOW) last posted its quarterly earnings results on Wednesday, July 22nd. The information technology services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.04. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.93 billion. ServiceNow had a net margin of 11.34% and a return on equity of 16.45%. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period last year, the company posted $0.81 EPS. As a group, equities research analysts anticipate that ServiceNow, Inc. will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling

In other ServiceNow news, Director Paul Edward Chamberlain sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $135.50, for a total value of $365,850.00. Following the sale, the director owned 43,990 shares in the company, valued at $5,960,645. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by insiders.

ServiceNow Company Profile

ServiceNow (NYSE: NOW) is a cloud computing company that builds enterprise software to manage digital workflows and automate business processes. Its offerings are designed to replace manual work and legacy systems with cloud-based, service-oriented applications that support IT operations, customer service, human resources, security response and other enterprise functions.

The company’s flagship product family is the Now Platform, a suite of subscription software and platform services that includes IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), Customer Service Management (CSM), HR Service Delivery, Security Operations and Asset Management.